It would be a very unique first car and it could be a lot of fun. An old Cruiser is more likely to be a "hobby" than basic transportation but as long as it's in reliable, running condition, it could be a solid ride. Many '40's are in certain states of modification/disassembly and might require some dialing-in in order to get you to school on time every day. They're also a bit thirsty with the inline-6 and not overly powerful. That said, they are incredibly unique and capable.
Likely the most difficult part of an FJ-40 is buying one. They have such a cult status that the examples that are restored or even the faded originals are fetching $10-15,000 or more. Those that are under $5,000 are often partially-disassembled, have failed V-8 engine swaps, or are just a rolling body-on-frame with no engine at all. Many of them have been modified and "repaired" to the degree that they might be too frustrating to drive, especially in the cold.
The '75-'83's are nice because they have the more powerful 2-F engine and the 4-speed transmission. The older ones have 3-speed transmissions, making them even louder and thirstier on the highway. The '76 and newer has front disc breaks, so you hopefully won't have to stand on the pedal as much to stop.
If you do find one or get one running for a decent price, it will likely be an experience you'll never forget--hopefully in a good way.
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